2024-02-16T10:32:18-06:00 2023-09-30 411489071 SMITH SCHAFER & ASSOCIATES LTD 7500 HIGHWAY 55 SUITE 350 MINNEAPOLIS MN 55427 990 2022-10-01 411345544 CENTRAL MINNESOTA DEVELOPMENT COMPANY CENT 7637843337 1885 STATION PARKWAY NW ANDOVER MN 55304 MIKE MULROONEY EXECUTIVE DIRECTOR 7637843337 2024-02-13 MIKE MULROONEY 999009999 1 DEAN RICHARDS P00029984 9529201455 2024-02-12 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MIKE MULROONEY 1885 STATION PARKWAY NW ANDOVER MN 55304 1225321 0 X WWW.CMDCBUSINESSLOANS.COM X 1978 MN TO PROCESS AND MONITOR SBA LOAN PROGRAMS. 11 11 9 0 5454 0 0 0 963586 1055723 30658 48208 4922 94878 999166 1198809 0 0 0 0 872317 759307 0 0 0 233198 208587 1105515 967894 -106349 230915 3109444 3077135 1343450 1080226 1765994 1996909 CMDC IS COMMITTED TO PROMOTING ECONOMIC DEVELOPMENT BY CULTIVATING A FINANCING ENVIRONMENT THAT ALLOWS MINNESOTA SMALL BUSINESSES TO GROW AND PROSPER. 0 0 868793 THE ORGANIZATION IS A SBA CERTIFIED DEVELOPMENT COMPANY ORGANIZED FOR THE PURPOSE OF PROMOTING ECONOMIC VIABILITY WITHIN CENTRAL MINNESOTA BY CULTIVATING A FINANCING ENVIRONMENT THAT ALLOWS SMALL BUSINESSES TO PROSPER. 868793 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 0 1 9 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X MICHAEL MULROONEY 7637843337 1885 STATION PARKWAY NW SUITE A ANDOVER MN 55304 JERRY TEESON CHAIRMAN 2.00 X X 0 0 0 JULIE LUX SECRETARY 2.00 X X 0 0 0 JOE PETERSON TREASURER 2.00 X X 0 0 0 DAVID RYMANOWSKI VICE CHAIRMAN 2.00 X X 0 0 0 MARTY FISHER DIRECTOR 2.00 X 0 0 0 STEVEN KALINA DIRECTOR 2.00 X 0 0 0 MAUREEN STEINWALL DIRECTOR 2.00 X 0 0 0 CLARK ARNESON DIRECTOR 2.00 X 0 0 0 CHRIS RANDALL DIRECTOR 2.00 X 0 0 0 LARRY CRANE DIRECTOR 2.00 X 0 0 0 ERIK HEGG DIRECTOR 2.00 X 0 0 0 MIKE MULROONEY EXECUTIVE DIRECTOR 40.00 X 161668 0 0 161668 0 0 1 0 1 0 0 LOAN ORIGINATION AND S 525990 1055723 1055723 1055723 48208 48208 31966 26512 5454 5454 5454 OTHER INCOME 900099 89424 89424 89424 1198809 1145147 5454 48208 161668 137418 24250 449711 382257 67454 39452 37479 1973 61873 58779 3094 46603 44273 2330 57292 57292 12898 12898 16166 16166 3232 3232 16293 16293 5329 5329 6205 6205 12767 12767 COMMUNICATIONS 35882 35882 REAL ESTATE TAXES 15184 15184 MAINTENACE AND REPAIRS 8520 8520 EQUIPMENTAL RENTAL 5523 5523 13296 13296 967894 868793 99101 0 1160815 864311 609614 733434 76976 93344 4923 2675 936768 534613 429506 402155 827610 981216 3109444 3077135 445941 244177 677191 591133 220318 244916 1343450 1080226 X 1765994 1996909 1765994 1996909 3109444 3077135 230915 0 X X 0 1 X 1 0 114500 114500 676689 392655 284034 142936 139315 3621 2643 2643 0 402155 ILP NOTES RECEIVABLE 612506 RESERVE ACCOUNT 101305 REVOLVING LOAN FUND 228146 MINNESOTA EMERGING ENTREPRENEUR LOAN 39259 981216 REVOLVING LOAN FUND 228146 DEFERRED LOAN FEES 16770 244916 X 1225321 0 1225321 -26512 -26512 1198809 994406 0 994406 -26512 -26512 967894 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. CERTAIN ORGANIZATIONAL ACTIVITIES ARE TAXABLE AS UNRELATED BUSINESS INCOME. THERE IS NO PROVISION OR LIABILITY FOR FEDERAL INCOME TAXES FOR THE YEAR PRESENTED, AS THOSE ACTIVITIES DID NOT RESULT IN TAXABLE INCOME. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS AND ASSOCIATED UNRECOGNIZED BENEFITS THAT MATERIALLY IMPACT THE FINANCIAL STATEMENTS OR RELATED DISCLOSURES. THE ORGANIZATION'S FEDERAL INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES X X X 0 0 0 MIKE MULROONEY EXECUTIVE DIRECTOR 161668 0 0 0 0 0 0 0 0 0 161668 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE DIRECTOR FIRST REVIEWS THE 990 RECEIVED FROM THE ACCOUNTANT, THEN IS REVIEWED BY THE EXECUTIVE COMMITTEE WHO PRESENTS IT TO THE BOARD FOR REVIEW AND APPROVAL PRIOR TO MAILING. FORM 990, PART VI, SECTION B, LINE 12C DISCUSSED AT LEAST ANNUALLY AT THE BOARD MEETING TO KEEP MEMBERS AWARE. FORM 990, PART VI, SECTION B, LINE 15 ANNUAL REVIEWS ARE COMPLETED WITH CONSIDERATION OF ACCOMPLISHMENTS OF PERSONAL AND BUISNESS GOALS. INDUSTRY STANDARDS ARE USED IN CONJUNCTION WITH ACCOMPLISHMENTS. ALL COMPENSATION RATES ARE REVIEWED AND APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE AT THE OFFICE UPON REQUEST. FORM 990, PART XII, LINE 2C: ORGANIZATION'S BOARD OF DIRECTORS IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. AUDITED FINANCIAL STATEMENTS AND 990 ARE REVIEWED BY THE BOARD PRIOR TO ISSUANCE.